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Sun, sea and speculation at the favorite resort of China’s political elite (Asia Times)

July 23, 2018

By Gordon Watts 

Beidaihe beach will be packed by senior CCP officials next month as they grapple with a changing economic, social and international landscape

On an exclusive stretch of Beidaihe beach, China’s political elite will gather for their annual summer break next month at Chairman Mao Zedong’s favorite resort.

Nearly 260 kilometers, or 161 miles, from the hustle and bustle of Beijing, President Xi Jinping and Premier Li Keqiang will stretch out on sun loungers, before taking the occasional dip in the Bahai Sea, away from the prying eyes of traditional holidaymakers at the coastal town. 

Since the days of Mao, this has become an iconic spot, a place to relax and talk about the big issues of the day. In the next few weeks, there will be plenty to discuss and digest, apart from the sumptuous spreads.

Retired leaders, such as elder statesman Jiang Zemin, will probably be there along with the current crop of senior Communist Party members.

... 

Because of its monumental scope, there are “sovereign debt risks” lurking in the background of the planned “$8 trillion network of transportation, energy, and telecommunications infrastructure” projects, the Center for Global Development, a Washington-based think tank, pointed out, which was underscored by the IMF

Read the full article here.

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Senior Fellow, Director of the US Development Policy Initiative